Skip to main content

Top Reasons to Invest in Online Payroll Software

 


The business world is evolving and so is the way how companies manage their payroll and HR requirements.

Most companies avail of cloud based payroll solutions these days. And there are various advantages of the same, such as accuracy for compliance with lower obligation as well as affordability.

This also has a great impact on the overall business environment. Technology has been a blessing to us and it is emerging every day to fulfill the demand in the market.

One can complete all tasks without any hindrance and seamlessly through technology. And companies aren't falling behind.

Business organizations gain traction from cloud-based payroll solution as their jobs are easily done via these solutions.

Now let us start with the basic – what is cloud-based technology? Cloud-based technology is a simple process of hosting software or an application on a server that is placed at a remote location by service providers while people can access it over the net.

You don’t need to install certain software on your personal or office computer. One can operate this software at anytime from anywhere.

So these are a few reasons why you should switch to a cloud-based payroll solution if you still haven’t. 

Manage unorganized employee information

A cloud-based payroll solution can help you track and manage employee data seamlessly. You won’t struggle as you are, right now.

Right from onboarding to benefits, pay rate changes, leaves, and performance reviews, everything would be recorded with the help of the solution.

Companies can even keep account of assets assigned to employees, such as laptops, bikes, et al.


Read Also | 8 Remarkable Features of Cloud-based Payroll Software


Staying compliant with statutory requirements

This is one of the major worries of business houses. Cloud technology offers you updated compliance. You can be totally statutory compliant with cloud payroll software and you can easily let it take care of your TDS, Form 16, PF, ESI, and more.

Tackle employee queries

Cloud-based payroll solution offers employee self-service, which provides access to workers to their respective benefits, leave requests, tax-related information payslips, attendance date, personal information, etc. You will get fewer calls and emails with this. Self-service will also boost employee engagement.

HR system

Rolling out a seamless and punctual payroll requires data to flow into the payroll system, from various HR systems, such as leave management and attendance management systems.


Read Also | Why a Cloud-Based HR Software is Crucial for Any Business?


Punctual Delivery of Reports to Management

One of the major benefits of this solution is that Cloud HR & payroll software with a core HR software module provides value-added reports for HR analytics.

You can easily access labor law reports, statutory reports and HR MIS reports with its help. Say goodbye to manual report-making, which has higher chances of mistakes.

You can access all the data just with the help of a few clicks.

Flexible

Your workers want the flexibility to work from anywhere. It allows applying for leave or edit information while being away from the office. One can also access payslips and tax information with the help of advanced Cloud HR and payroll software.

Cost of payroll

Another benefit of online payroll software is that it is low investment and high returns. You will be able to save on recurring costs like the cost of servers, IT support, etc.


Read Also | Reasons why it is crucial to switch to cloud-based payroll software


Benefits of online payroll software

You should shift to online payroll software instead of manual computing. In a nutshell, here are some points.

·        Cloud-based payroll solution helps in reducing IT-related and infrastructure costs, which is as cheap as a subscription.

·         It can be used from anywhere. There is no need to log in.

·        Service providers take care of upgraded software, new features, and auto-updates of statutory compliances, latest security firewalls, etc.

·       It is easy to use for multiple users. It can be used according to user needs, workflows, reports, MIS, link to different internal systems, etc.

There are many companies like Dynamic Business Solutions that offer convenient and compact solutions such as DynaPay for Dynamics 365 Business Central and Dynamo for Dynamics 365 FinOps. It empowers companies on a daily basis.

To know more, speak to our expert at Dubai: +971 4 447 5525 Abu Dhabi: +971 2 222 2100 or inbox us your query at  dynapay@dynamics.ae OR visit www.dynamics.ae

Comments

Popular posts from this blog

Top 13 out of the box benefits of Microsoft Dynamics CRM

  In comparison with other CRM products, Microsoft Dynamics CRM is one of the most powerful and flexible CRM solutions.   A qualified Dynamics CRM Business Partner have the potential to configure products to mitigate wide variety of distinct business and industry processes, no matter how complicated such requirements and processes may be.   With all such flexibility, functionality and potential, one can lose out the sight of benefits that the Microsoft Dynamics CRM gets to a company that might have standard business processes with a lookout to ameliorate marketing, sales and customer service.   Dynamics CRM is a good option for companies that requires highly customized and qualified CRM solution. Moreover, it can get so highly configured that as a CRM solution, it can hardly become recognizable.   However, they are ideal for businesses whether small, mid or large that requires straightforward out of box functionality. Read Also |  What are the advantages of Microsoft

How will Cloud Based Payroll Solutions change the HR Function?

  Presently, HR function has evolved from how it used to operate in early 2000. The introduction of HRM or Human Resource Management systems in the late 1990s had revolutionized the HR groups across different industries. Note that HR groups in any business today are not confined to back office. Their responsibilities have extremely changed with change in time. Human resource department now handles various key functions, which includes recruiting, performance management, on boarding, employee engagement & employee data management etc. All such functions include massive data generation & intense processing. Taking up cloud based payroll solutions have made processing and storage of data/info easier. Cloud based payroll software leverages all potentials of cloud computing for enhanced management of the resources & lowers the costs. Using cloudHR software has enhanced the productivity & efficiency of the organization massively all round the globe. With this the

Cloud based HR payroll system - All you need to know

Innovations in the technologies have assisted companies ameliorate performance in various regions. May it be the marketing field, development and learning sector or HR management vertical, businesses now have systems for each function that can assist enhance performance of the staff/employees. When clubbed this with a cloud based company, you avail potent combinations that take your company to the next level. No matter what your location, involvement of cloud computing has opened numerous opportunities for companies in all the verticals. For instance, there is a consumer linked management system that assists companies develop strong connections with co nsumers. Also, there is learning management software that has completely changed the scope of development and learning. Here in this article, we will discuss all about cloudbased HR payroll systems . Economical approach towards cloud based HR software: Human resource staff have a great lot to manage. For instance, they spend